| 26.09.2008 Opalesque Exclusive: CFA Institute Study: Currency fund managers beat the benchmark, but researchers say create alpha only prior to fees and costs |
| Historically, managers of currency funds have earned excess returns, according to an article (PDF) published in the September/October CFA Institute Financial Analysts Journal. However, upon further analysis, researchers find alpha would be positive only prior to fees and costs. Co-authors Momtchil Pojarliev, CFA, and Richard M. Levich found that the average excess return of the funds in the |
| Article source: http://www.cfapubs.org/doi/pdf/10.2469/faj.v64.n5.4?cookieSet=1 - Opalesque is not responsible for the content of external internet sites |